Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
Stock code: 200725 Short form of stock: BOE B Announcement No.: 2011-029
BOE Technology Group Co., Ltd.
Abstract of the Semi-annual Report 2011
§1. Important Statement
1.1 The Board of Directors, the Supervisory Committee, directors, supervisors and
senior executives of BOE Technology Group Co., Ltd. (hereinafter referred to as ―the
Company‖) hereby assure that there are no false records, misleading statements or
significant omissions in this report, and shall shoulder any individual and/or joint
liability concerning the authenticity, accuracy and completeness of the contents of this
report.
The Abstract of the Semi-annual Report 2011 is abstracted from the full text of the
Semi-annual Report 2011, which is published on www.cninfo.com.cn in the mean time
with the Abstract. Investors are suggested to read the full text to understand more
details.
1.2 The Financial Report for the first half of 2011 has not been audited by a CPA firm.
1.3 Chairman of the Board Mr. Wang Dongsheng, CEO Mr. Chen Yanshun, CFO Ms.
Sun Yun, and Person-in-charge of the Financial Planning Dept. Ms.Yang Xiaoping
hereby declare that the Financial Report enclosed in the Semi-annual Report 2011 is
factual and complete.
English Translation for Reference Only. Should there be any discrepancy between the
two versions, the Chinese version shall prevail.
§2. Company Profile
2.1 Basic information
Short form of stock BOE A, BOE B
Stock code 000725, 200725
Stock exchange Shenzhen Stock Exchange
Board Secretary Securities Affair Representative
Name Feng Liqiong Liu Hongfeng
No.10, Jiuxianqiao Road, Chaoyang District, No.10, Jiuxianqiao Road, Chaoyang
Contact address
Beijing District, Beijing
Telephone 010－64318888 ext. 010－64318888 ext.
Fax 010-64366264 010-64366264
E-mail fengliqiong@boe.com.cn liuhongfeng@boe.com.cn
2.2 Financial highlights
2.2.1 Major accounting data and financial indexes
Unit: RMB Yuan
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
Increase/decrease at the
At the end of this end of this reporting period
At the end of last year
reporting period compared with the end of
last year (%)
Total assets (Yuan) 63,752,747,065.00 54,229,952,769.00 17.56%
Owners’ equity attributable to shareholders of
23,718,541,750.00 24,955,013,046.00 -4.95%
the listed company (Yuan)
Share capital (share) 13,521,542,341.00 11,267,951,951.00 20.00%
Net assets per share attributable to shareholders
1.75 2.21 -20.81%
of the listed company (Yuan/share)
Reporting period (From Increase/decrease
Same period of last year
Jan. to Jun. 2011) year-on-year (%)
Total operating income (Yuan) 4,940,033,997.00 4,186,429,883.00 18.00%
Operating profit (Yuan) -1,394,938,605.00 -627,515,770.00 -122.30%
Total profit (Yuan) -1,329,248,016.00 -602,694,520.00 -120.55%
Net profit attributable to shareholders of the
-1,215,484,477.00 -540,706,227.00 -124.80%
listed company (Yuan)
Net profit attributable to shareholders of the
listed company after deducting non-recurring -1,272,107,385.00 -560,272,988.00 -127.05%
gains and losses (Yuan)
Basic earnings per share (Yuan/share) -0.090 -0.065 -238.46%
Diluted earnings per share (Yuan/share) -0.090 -0.065 -38.46%
Weighted average ROE (%) -4.99% -3.05% -1.94%
Weighted average ROE after deducting
-5.23% -3.16% -2.07%
non-recurring gains and losses (%)
Net cash flows from operating activities (Yuan) -609,716,117.00 3,312,176.00 -18,508.32%
Net cash flows per share from operating
-0.05 -0.0003 -16,566.67%
activities (Yuan/share)
2.2.2 Items of non-recurring gains and losses
√Applicable □Inapplicable
Unit: RMB Yuan
Items of non-recurring gains and losses Amount
Gains and losses from disposal of the non-current assets 10,460,991.00
Government subsidy recognized in gains and losses of current period,
excluding government subsidies with close relationship to the Company’s
43,299,784.00
normal business, in line with government policies and granted with fixed
amount or quantity according to certain standards
Reversal of impairment provisions for accounts receivable for which the
3,000.00
impairment test is carried out separately
Gains/losses on fair value changes of transactional financial assets and
liabilities, as well as investment gains on disposing transactional financial -8,670,137.00
assets and liabilities and available-for-sale financial assets, excluding the
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
valid hedging business related to the Company’s normal operation
Other non-operating income and expenses except the above 11,929,814.00
Impact on income tax -116,181.00
Impact on minority interests -284,363.00
Total 56,622,908.00
2.2.3 Difference between PRC GAAP and IFRS
□Applicable √Inapplicable
§3. Changes in Share Capital and Particulars about Shareholders
3.1 Statement of changes in shares
√Applicable □Inapplicable
Unit: share
Prior to the change Increase/ decrease (+, -) Subsequent to the change
New Capitalization
Bonus Othe
Number Ratio shares of public Subtotal Number Ratio
shares r
issued reserve fund
I. Shares subject to
4,235,114,922 37.59% 847,022,984 847,022,984 5,082,137,906 37.59%
trading moratorium
1. Shares held by the
330,000,000 2.93% 66,000,000 66,000,000 396,000,000 2.93%
State
2. Shares held by
state-owned 3,305,049,504 29.33% 661,009,901 661,009,901 3,966,059,405 29.33%
corporations
3. Shares held by
other domestic 600,000,000 5.33% 120,000,000 120,000,000 720,000,000 5.33%
investors
Including: Shares
held by domestic
600,000,000 5.33% 120,000,000 120,000,000 720,000,000 5.33%
non-stated
corporations
Shares held by
domestic natural 0 0.00% 0 0 0.00%
persons
4. Shares held by
0 0.00% 0 0 0.00%
foreign investors
Including: Shares
held by foreign 0 0.00% 0 0 0.00%
corporations
Shares held by
foreign natural 0 0.00% 0 0 0.00%
persons
5. Shares held by
65,418 0.00% 13,083 13,083 78,501 0.00%
senior executives
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
II. Shares not subject
to trading 7,032,837,029 62.41% 1,406,567,406 1,406,567,406 8,439,404,435 62.41%
moratorium
1. RMB ordinary
5,917,287,029 52.51% 1,183,457,406 1,183,457,406 7,100,744,435 52.51%
shares
2. Domestically listed
1,115,550,000 9.90% 223,110,000 223,110,000 1,338,660,000 9.90%
foreign shares
3. Overseas listed
0 0.00% 0.00%
foreign shares
4. Others 0 0.00% 0.00%
III. Total number of
11,267,951,951 100.00% 2,253,590,390 2,253,590,390 13,521,542,341 100.00%
shares
3.2 Particulars about shares held by the top ten shareholders and the top ten
shareholders not subject to moratorium
Unit: Share
Total number of shareholders 431,560 (including 391,445 A-share holders and 40,115 B-share holders)
Particulars about shares held by the top ten shareholders
Shares subject to
Nature of Shareholdin Total number of trading Shares pledged
Name of shareholder
shareholder g percentage shares held moratorium or frozen
held
BEIJING E-TOWN
State-owned
INTERNATIONAL INVESTMENT 9.57% 1,294,059,406 594,059,405 647,029,502
Corporation
& DEVELOPMENT CO., LTD
BEIJING BOE INVESTMENT & State-owned
6.37% 860,981,080 0 0
DEVELOPMENT CO., LTD. Corporation
BEIJING
ECONOMIC-TECHNOLOGICAL State-owned
6.27% 847,650,000 840,000,000 0
INVESTMENT & DEVELOPMENT Corporation
CORP.
HEFEI RONGKE PROJECT State-owned
5.86% 792,000,000 792,000,000 0
INVESTMENT CO., LTD. Corporation
HEFEI LAN KE INVESTMENT State-owned
5.55% 750,000,000 750,000,000 0
CO., LTD. Corporation
HEFEI XINCHENG
State-owned
STATE-OWNED ASSETS 5.55% 750,000,000 750,000,000 0
Corporation
MANAGEMENT CO., LTD
BEIJING JIAHUI DEXIN Domestic
INVESTMENT CENTER (LIMITED general 4.44% 600,000,000 600,000,000 600,000,000
PARTNERSHIP) corporation
BEIJING INDUSTRY
DEVELOPMENT & INVESTMENT The state 3.27% 442,016,711 396,000,000 0
MANAGEMENT CO., LTD.
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
BEIJING ELECTRONICS
The state 2.04% 275,303,883 0 168,418,605
HOLDING CO., LTD
Domestic
KE XIPING 1.98% 267,900,000 0 252,000,000
natural person
Particulars of shares held by the top ten shareholders not subject to trading restrictions
Number of shares not subject to trading
Name of the shareholders Type of shares
restrictions held
BEIJING BOE INVESTMENT &
860,981,080 A shares
DEVELOPMENT CO., LTD.
BEIJING E-TOWN INTERNATIONAL
700,000,001 A shares
INVESTMENT & DEVELOPMENT CO., LTD
BEIJING ELECTRONICS HOLDING CO., LTD 275,303,883 A shares
KE XIPING 267,900,000 A shares
HUITAI SECURITIES CO., LTD. 68,382,601 A shares
BEIJING ZHISHUAI INVESTMENT
66,579,642 A shares
CONSULTING CO., LTD
BEIJING INDUSTRY DEVELOPMENT &
46,016,711 A shares
INVESTMENT MANAGEMENT CO., LTD.
FIELDS PACIFIC LIMITED 43,781,561 B shares
HUANG YINGBIN 43,157,394 B shares
CHENGDU HI-TECH INVESTMENT GROUP
40,765,635 A shares
LTD.
1. Beijing Electronics Holdings Co., Ltd. holds 66.25% shares of Beijing BOE Investment
& Development Co., Ltd. and is its controlling shareholder.
2. When the Company completed private offering of shares in 2010, Beijing E-TOWN
International Investment & Development Co., Ltd. transferred all shares directly held to
Explanation on associated Beijing BOE Investment & Development Co., Ltd. for management, then BOE Investment
relationship among the top ten acquired the attached rights of the shares attributable to other shareholders in accordance
shareholders or with current effective laws and rules, excluding right of disposition such as transfer,
action-in-concert donation, mortgage etc. and usufruct (including claim for profit distribution and claim for
retained assets distribution).
3. Except for relationship among the above shareholders, the Company is not aware of
whether there is any associated relationship or not among top ten shareholders holding
shares not subject to trading moratorium.
3.3 Particulars about change of the controlling shareholder and actual controller of the
Company
□Applicable √Inapplicable
§4. Particulars about Directors, Supervisors and Senior Executives
4.1 Particulars about changes in shares held by directors, supervisors and senior
executives
√Applicable □Inapplicable
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
Including:
Shares Shares shares
Shares held Shares held Stock options
increased in decreased in subject to Reason for
Name Position at the at the held at the
the current the current trading to change
period-begin period-end period-end
period period moratorium
held
Chairman of the
Turning
Board, Director
Wang capital reserve
of the Executive 24,921 4,984 0 29,905 0 0
Dongsheng to share
Committee
capital
Turning
Deputy chairman
Liang capital reserve
9,969 1,994 0 11,963 0 0
Xinqing to share
capital
Executi
Turning
ve director,
capital reserve
Han Guojian executive 9,968 1,994 0 11,962 0 0
to share
vice-president
capital
Turning
Mu capital reserve
Supervisor 2,492 499 0 2,991 0 0
Chengyuan to share
capital
Executi Turning
ve vice-president capital reserve
Song Ying 24,921 4,984 0 29,905 0 0
to share
capital
Executive Turning
vice-president capital reserve
Wang Yanjun 9,968 1,994 0 11,962 0 0
to share
capital
Turning
CFO,
capital reserve
Sun Yun Senior Vice 4,984 997 0 5,981 0 0
to share
President
capital
§5. Report of the Board of Directors
5.1 Main businesses classified according to industries or products
Unit: RMB Ten thousand
Main business classified according to industries
Operating Gross profit Increase/decrease Increase/decrease Increase/decrease
Industries/products Operating cost
income ratio (%) of operating of operating cost of gross profit
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
income compared compared with the ratio compared
with the same same period last with the same
period last year year (%) period last year
(%) (%)
TFT-LCD used for IT and
304,857.00 364,496.00 -19.56% 4.94% 21.10% -15.96%
TV
TFT-LCD used for mobile
101,818.00 91,634.00 10.00% 92.26% 83.34% 4.38%
and application products
Back light product Business 74,382.00 71,241.00 4.22% 5.52% 7.00% -1.33%
Other business 164,261.00 143,589.00 12.58% 166.56% 209.61% -12.15%
Offset -151,314.00 -136,488.00 9.80% 165.76% 165.57% 0.06%
Total 494,004.00 534,472.00 -8.19% 18.00% 29.56% -9.65%
Main business classified according to products
TFT-LCD used for IT and
304,857.00 364,496.00 -19.56% 4.94% 21.10% -15.96%
TV
TFT-LCD used for mobile
101,818.00 91,634.00 10.00% 92.26% 83.34% 4.38%
and application products
Back light product business 74,382.00 71,241.00 4.22% 5.52% 7.00% -1.33%
Other business 164,261.00 143,589.00 12.58% 166.56% 209.61% -12.15%
Offset -151,314.00 -136,488.00 9.80% 165.76% 165.57% 0.06%
Total 494,004.00 534,472.00 -8.19% 18.00% 29.56% -9.65%
5.2 Main businesses classified according to regions
Unit: RMB Ten thousand
Increase/decrease compared with the
Region Operating income
same period last year (%)
China 353,093 42.69%
Other Asian countries and regions 272,144 21.63%
Europe 9,479 192.29%
America 9,893 780.94%
Other countries 709 -
Offset -151,314 165.76%
Total 494,004 18.00%
5.3 Explanation for significant changes in main businesses and their structure
□Applicable √Inapplicable
5.4 Explanation for significant changes in profitability (gross profit ratio) of main
businesses compared with last year
√Applicable □Inapplicable
Affected by fluctuations in the industry, prices of large-sized panels showed a slide over 20% as
compared with the same period of last year, causing a great impact on the gross profit rate of the
business of TFT-LCD used for IT and TV which accounted for over 60% of the Company’s total
revenues. Due to the said fluctuation in the panel business, upstream and downstream businesses
also showed some decrease.
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
5.5 Analysis for significant changes in profit structure compared with the previous
year
□Applicable √Inapplicable
5.6 Utilization of raised proceeds
5.6.1 The Form of Utilization of raised proceeds
√Applicable □Inapplicable
Unit: RMB Ten thousand
Total raised proceeds 2,296,886.00
Total raised proceeds invested in the
Total raised proceeds with usage altered in the 633,915.00
0.00 reporting period
reporting period
Accumulative raised proceeds with usage
240,810.00
altered Accumulative raised proceeds
1,432,783.00
Proportion of accumulative raised proceeds invested
10.48%
with usage altered
Chang
Date Re
ed Investm
when ach
project ent
the ed Significant
s or Total Accumulative progress Benefit
Committed investment Total Invested project pro change in
not committed invested as at the realized
projects and investment investment amount in reache ject feasibility
(partia investment amount as at end of in the
direction of extra raised after the reporting d ed of the
l of raised the end of the the reportin
proceeds adjustment (1) period service ben project or
chang proceeds period (2) period g period
able efit not
e (%)(3)
conditi or
includ ＝(2)/(1)
on not
ed)
Committed investment
projects
Production line project 1
of the 4.5G TFT-LCD Yes 220,000.00 180,546.00 11,808.00 180,159.00 99.79% Nov. 91.00 Yes No
(4.5G Project) 2009
Project of increasing
capital to Beijing BOE
Optoelectronics
Technology Co., Ltd.
and repaying its
N/
syndicated loans Yes 226,800.00 0.00 0.00 0.00 0.00% - - No
A
(Project of Capital
Increase for Debt
Clearing of BOE
Optoelectronics
Technology Co., Ltd.)
Project of
N/
supplementing current Yes 18,200.00 43,644.00 0.00 43,644.00 100.00% - - No
A
capital (2008)
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
Production line project 18
of the 6G TFT-LCD Yes 1,078,331.00 895,950.00 197,184.00 684,057.00 76.35% Nov. -45,686.00 Yes No
(6G Line Project) 2010
Project of
N/
supplementing Current No 100,000.00 100,000.00 0.00 100,000.00 100.00% - - No
A
capital (2009)
Production line project 1
of the 8G TFT-LCD No 850,000.00 850,000.00 198,177.00 198,177.00 23.31% Oct. 0.00 Yes No
(8G Line Project) 2011
Project of
N/
supplementing current No 44,365.00 44,365.00 44,365.00 44,365.00 100.00% - - No
A
capital (2010)
Subtotal of committed
- 2,537,696.00 2,114,505.00 451,534.00 1,250,402.00 - - -45,595.00 - -
investment projects
Use of over-raised
None
funds
Repaying bank loans, if
- - - - -
any
Supplementing the
- - - - -
working capital, if any
Subtotal of the used
- 0.00 0.00 0.00 0.00 - 0.00 - -
over-raised funds
Total - 2,537,696.00 2,114,505.00 451,534.00 1,250,402.00 - -45,595.00 - -
Situation and reason on
failing to catch up with
the planned progress or
None
achieve the estimated
earnings (with details of
each involved project)
Explanation on
significant change of None
project feasibility
Condition of
implementation place of
N/A
raised proceeds
investment projects
Change of
implementation place of
N/A
raised proceeds
investment projects
Adjustment in
implementation way of
N/A
raised proceeds
investment projects
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
Applicable
Before raised funds of Y2008 were available, the Company, in accordance with Proposal on Increasing
Capital to Chengdu BOE Optoelectronics Technology Co., Ltd. passed by the 10th Session of the 5th Board of
Directors on 26 May 2008, preliminarily input self-raised funds of RMB 245,454,000.00, which were
deposited in China Construction Bank Chengdu West District Branch, to construction of 4.5G Project. After
raised funds of Y2008 became available, based on the Management Method of Raised Funds of Listed
Companies of Shenzhen Stock Exchange, and as reviewed and passed by the 12 th Session of the 5th Board of
Preliminary input and
Directors on 28 Jul. 2008, the Company replaced the preliminary self-raised funds put into 4.5G Project by
replacement of raised
raised funds of RMB 245,454,000.00 of Y2008.
proceeds investment
Before raised funds of Y2009 were available, in accordance with Proposal on Investing and Establishing 6G
projects
TFT-LCD Production Line Project and Proposal on Issuance Scheme of Private Offering of A stock approved
by voting at the 17th Session of the 5th Board of Directors on 7 Nov. 2008 and the 2 nd interim Shareholders’
General Meeting 2008 on 25 Nov. 2008, the Company preliminarily input self raised funds of RMB
1,309,500,000.00 to construction of 6G Project. After raised funds of Y2009 became available, based on the
Management Method of Raised Funds of Listed Companies of Shenzhen Stock Exchange, and as reviewed
and passed by the 26th Session of the 5th Board of Directors on 23 Jun. 2009, the Company replaced the
preliminary self-raised funds put into 6G Project by raised funds of RMB 1,309,500,000.00.
Project of temporarily
supplementing current
N/A
capital with idle raised
proceeds
Applicable
The mass production of the 6G project was successfully realized in Nov. 2010, the production capacity
Balance of raised expansion progress was good, and the full capacity was realized at the end of April.2011. The project
proceeds during the subsidiary—Hefei BOE Optoelectronics Technology Co., Ltd.—had a rational financial structure, as well as
implementation of sufficient and stable operating funds, to satisfy routine operating needs. According to the original
projects and reason commitment, the investment amount for the project was RMB 10,783,310,000 and was later changed to RMB
thereof 8,959,500,000. As reviewed and approved at the 2010 Annual Shareholders’ General Meeting of the
Company, the outstanding raised funds of RMB 1,910,190,000 (including the corresponding interest of the
special account for the raised funds) were used for supplementing working capital.
I. The remaining raised proceeds in 2008 would be used for construction and operation of the Chengdu 4.5G
Line, which are currently put into the special account for raised proceeds and strictly managed by Chengdu
BOE Optoelectronics Technology Co., Ltd.—the company in charge of the project implementation;
Use and whereabouts of II. The remaining raised proceeds in 2009 would be used for construction and operation of the Hefei 6G Line,
the remaining raised which are currently put into the special accounts for raised proceeds and strictly managed by Hefei BOE
capital Optoelectronics Technology Co., Ltd.—the company in charge of the project implementation.
III. The remaining raised proceeds in 2010 would be used for construction and operation of the Beijing 8G
Line, which are currently put into the special accounts for raised proceeds and strictly managed by Beijing
BOE Display Technology Co., Ltd.—the company in charge of the project implementation.
Existing problems or
other conditions during None
the use and disclosure
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
of raised proceeds
5.6.2 Change of projects invested with raised proceeds
√Applicable □Inapplicable
Unit: RMB Ten thousand
Comp
Actual
Investment liant Whether
amount of Earnings
Planned progress at with there is
accumulativ Expected realized
Project after Project before input into Actual input in the estim significant
e input by available date in
change change project after reporting period period-end ated change in
the of projects reporting
change (1) (%) earnin project
period-end period
(3)=(2)/(1) gs or feasibility
(2)
not
The 6G
Supplementing TFT-LCD
Working Capital production line 182,381.00 182,381.00 182,381.00 100.00% -- -- Yes No
(2011) project (the 6G
project)
Total - 182,381.00 182,381.00 182,381.00 - - -- - -
Explanation on
reasons for
changes,
As reviewed and approved at the 4th Session of the 6th Board of Directors on 25 Apr. 2011 and later at the 2010 Annual
decision-making
Shareholders’ General Meeting on 30 May 2011, the outstanding funds raised in the private issue in 2009 (including the
procedures and
corresponding interest of the raised funds account before its cancellation) would be used for supplementing the working
information
capital.
disclosure (with
details down to
each project)
Explanation on
failing to reach
the
planned progress
or
None
get the expected
gains (with
details
down to each
project)
Explanation on
significant
changes in
None
feasibility of
projects after
change
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
5.7 Revised business plan of the Board for the second half of the year
□Applicable √Inapplicable
5.8 Estimation on accumulative net profit from the beginning of the year to the end of
next reporting period to be loss probably or the warning of its significant change
compared with the corresponding period of the last year and explanation for reason
√Applicable □Inapplicable
Type of the data for the performance forecast statement below: Interval number
Performance forecast Deficit
From the year-begin to the end The same period of last
Change (%)
of the next reporting period year
Accumulative net profit
-230,000.00 -- -210,000.00 -98,884.00 -- --
expected (RMB Ten thousand)
Basic earnings per share (RMB
-0.20 -- -0.19 -0.12 -- --
Yuan/share)
1. The global terminal consumer market for electronic products remains weak in the second half of
2011. Consequently, prices of the Company’s main LCD products continue to slide, causing a great
operating loss of the Company.
2. The Company continues to adjust the product structure of its 5G TFT-LCD production line, causing
Explanation on performance lower tire equipment efficiency and incurring loss.
forecast 3. Impact of exchange rate fluctuations. Many of the Company’s purchases of main raw materials and
equipments for the new production lines are settled in Japanese Yen, and exports in the US dollars. It is
expected that the fluctuations of the exchange rates of Renminbi against the US dollars and Japanese
Yen may have an adverse impact on the Company’s foreign exchange gains/losses for the third quarter
of 2011.
5.9 Explanation of the Board of Directors on ―Non-standard audit report‖ from the
Certified Public Accountants for the reporting period
□Applicable √Inapplicable
5.10 Explanation of the Board of Directors on changes and solutions of the issues
involved in ―Non-standard audit report‖ from the Certified Public Accountants in the
last year
□Applicable √Inapplicable
§6. Significant Events
6.1 Acquisition, sales and restructuring of assets
6.1.1 Assets acquired
√Applicable □Inapplicable
Unit: RMB Ten thousand
Transaction Assets Date of Transacti Net profit Net profit contributed Related-p Pricing Whethe Whethe Related-part
party or acquired acquisiti on price contributed to the to the Company from arty princip r r all y
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
ultimate or bought on Company from the the year-begin to the transactio le owners creditor relationship
controller in acquisition date to period-end (applicable n or not hip of ’s rights with the
the period-end for enterprise all and transaction
(applicable for combination under the assets liabiliti party
enterprise same control) involve es have (applicable
combination not d has been for
under the same been transfer related-party
control) transfer red transactions)
red
Sichuan
Changhong
1 March Market
Network Equity 1,530.00 -172.00 0.00 No Yes Yes N/A
2011 price
Technologies
Co., Ltd.
6.1.2 Assets sold
□Applicable √Inapplicable
6.1.3 Progress of these events and its influence on the operating results and financial
status in the reporting period after the report on assets restructure or public notice on
acquisition and sales of assets being published
□Applicable √Inapplicable
6.2 Guarantees
√Applicable □Inapplicable
Unit: RMB Ten thousand
Guarantees provided for external parties (excluding guarantees provided for subsidiaries)
Date of
Date and No. of Implementati
occurrence Actual Guarantee for
Name of the public notice Guarantee Type of on
(Date of amount of Term of guarantee related parties
guaranteed related to line guarantee accomplishe
signing guarantee or not
guarantee line d or not
agreement)
Shaoxing BOE
Ueno Electronic 2010-055， General 15 Oct. 2010 – 15 Oct.
1,940.12 15 Oct. 2010 1,940.12 No No
Components 29 Oct. 2010 guarantee 2011
Co., Ltd.
Zhejiang
Tongxiang
2010-056， Mutual 18 Apr. 2011 – 7 Dec.
Textile & 1,385.80 18 Apr. 2011 1,385.80 No No
29 Oct. 2010 guarantee 2012
Dyeing Co., Ltd.
(Note 1)
Shaoxing Huijin
2011-014, Mutual 16 Sep. 2010 – 15 Sep.
Automobile 346.45 16 Sep. 2010 311.81 No No
26 Apr. 2011 guarantee 2011
Sales Co. ltd.
Shaoxing
2011-014， Mutual 16 Apr. 2011 – 16 Apr.
Huifeng 2,425.15 16 Apr. 2011 1,039.35 No No
26 Apr. 2011 guarantee 2012
Automobile
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
Sales Co., Ltd.
Total external guarantees lines Total external guarantees
examined and approved in the 2,771.60 occurred in the reporting period 2,425.15
reporting period (A1) (A2)
Total external guarantee lines Balance of actual external
examined and approved at the period 6,097.52 guarantees at the period end 4,677.08
end (A3) (A4)
Guarantees provided for subsidiary companies
Date of
Date and No. of
occurrence Actual Implementation Guarantee for
Name of the public notice Guarantee Type of Term of
(Date of amount of accomplished or related parties or
guaranteed related to line guarantee guarantee
signing guarantee not not
guarantee line
agreement)
Beijing BOE
Optoelectronics 2005-007， General 8 Apr. 2005 –
490,079.80 31 Mar. 2005 252,876.20 No No
Technology Co., 8 Apr. 2005 guarantee 13 Apr. 2014
Ltd.
Zhejiang BOE
Display General 25 Sep. 2010 –
2011-016, 25 Sep. 2010 800.00 No No
Technology Co., guarantee 19 Sep. 2011
25 Apr. 2011
Ltd. (Note 2)
Zhejiang BOE
Display 2011-013, General 27 May 2011 –
27 May 2011 1,600.00 No No
Technology Co., 25 Apr. 2011 3,500.00 guarantee 7 Nov. 2011
Ltd. (Note 2)
Zhejiang BOE
Display 2011-013, General 15 Mar. 2011
15 Mar. 2011 1,500.00 No No
Technology Co., 25 Apr. 2011 guarantee –28 Nov. 2011
Ltd. (Note 2)
Total guarantees lines for Total guarantees for subsidiaries
subsidiaries examined and approved 3,500.00 occurred in the reporting period 3,100.00
in the reporting period (B1) (B2)
Total guarantee lines for subsidiaries Balance of actual guarantees for
examined and approved at the period 493,579.80 subsidiaries at the period end 256,776.20
end (B3) (B4)
Total guarantees of the Company (Total of the two above)
Total guarantees lines examined and
Total guarantees occurred in the
approved in the reporting period 6,271.60 5,525.15
reporting period (A2+B2)
(A1+B1)
Total guarantees lines examined and Total balance of actual
approved at the reporting period 499,677.32 guarantees at the period end 261,453.28
(A3+B3) (A4+B4)
Proportion of total actual guarantee amount (A4+B4) in net assets of the
11.02%
Company
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
Among which:
Amount of guarantees provided for shareholders, actual controller and
0.00
related parties (C)
Amount of debt guarantees provided directly or indirectly for parties with
256,776.20
asset-liability ratio exceeding 70% (D)
Proportion of total guarantee amount exceeding 50% of the Company’s net
0.00
assets (E)
Total amount of the above three guarantees (C+D+E) 256,776.20
Explanation on possibility of taking several and joint liability involving
None
immature guarantees
6.3 Credits and liabilities with related parties for non-operating purposes
√Applicable □Inapplicable
Unit: RMB Ten thousand
Capital provided by the Company for the Capital provided by the related party to the
Related party related party Company
Amount incurred Balance Amount incurred Balance
Beijing BOE Investment Development
43.00 0.00 0.00 0.00
Co., Ltd.
Total 43.00 0.00 0.00 0.00
Of which: The capital provided by the Company for the controlling shareholder and
its subsidiaries stood at RMB 430,000 in the reporting period with the balance of
RMB 0.00.
6.4 Significant lawsuits and arbitrations
□Applicable √Inapplicable
6.5 Other significant events and explanation and analysis on their influences and
solutions
√Applicable □Inapplicable
1. The SOPIC project: Since 2010, with formulating a client-oriented mechanism and increasing product
competitiveness and production line profitability as the objectives, and with specialization, centralization, process
standardization and informatization as the means, the SOPIC project has been carried out within the Group. Up to
the end of this June, upon common efforts of all units, phasic progress was made in organizational transformation,
process standardization, informatization, improvement of internal control rules, etc.
2. The Hefei 6G line project: The 6G line was able to produce in the full capacity at the end of this April, reaching
a monthly capacity of 90,000 pieces of glass basic panels three months ahead of the schedule. This represented
another phasic progress since the mass production in Nov. 2010.
3. The Beijing 8G line project: Keeping to the objective to ―rapidly build the most competitive 8G TFT-LCD
production line in the world‖, as well as the principle of ―five meantimes, five ensures and five models‖, crucial
breakthroughs were made in the first half of the year for the Beijing 8G line. The worker housing project was fully
accomplished and all workers officially moved into the factory area for work. The first-phase
equipments—30K—were all moved in and installed, and main equipments for the second phase were being moved
in and installed. Meanwhile, the 8G line was put into use on 29 Jun. 2011 as scheduled. The successful switch-on
of the relevant product made it the first over-40-inch LCD in China that was not imported and laying a solid
foundation for the successful operation of the whole project. The project was expected to realize mass production
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
in this third quarter.
4. The Company disclosed in the Announcement No. 2010-058 on 22 Nov. 2010 that its subsidiary Hefei BOE
Optoelectronics Technology Co., Ltd. was qualified to apply for the refund of the overpaid tax for imported
equipments. As at 30 Jun. 2011, Hefei BOE Optoelectronics Technology Co., Ltd. had received a total refund of
RMB 1.252 billion of the overpaid tax for imported equipments.
6.5.1 Securities investment
□Applicable √Inapplicable
6.5.2 Equity of other listed companies that the Company held
√Applicable □Inapplicable
Unit: RMB Yuan
Proportion
Gains and Change of
Initial in total
Short form of Ending book losses in the Owners’ equity Accounting Source
Stock code investment equities of
stock value reporting in the reporting title of stock
amount the
period period
enterprise
Financial assets
TPV Subscri
HK0903 134,658,158.00 1.04% 80,223,351.00 2,202,597.00 -22,591,584.00 available for
Technology ption
sale
Financial assets Share
Electronic
SH600658 90,160,428.00 1.69% 72,375,604.00 1,227,437.00 1,290,640.00 available for exchan
Zone
sale ge
Total 224,818,586.00 - 152,598,955.00 3,430,034.00 -21,300,944.00 - -
6.5.3 Non-operating capital occupation by principal shareholders and affiliated
enterprises, as well as debt-clearing progress
√Applicable □Inapplicable
Unit: RMB Ten thousand
New Total
Closing
Opening occupatio repaymen Estimated
balance
Name of the balance (1 n in the t in the amount of Estimated
Time of Reason for (30 Jun. Estimated way
shareholder or Jan. 2011) reporting reporting repayment month of
occupation occurrence 2011) of repayment
related party (Ten period period (Ten repayment
(Ten
thousand) (Ten (Ten thousand)
thousand)
thousand) thousand)
Beijing BOE
Investment
90 days Advance 0.00 43.00 43.00 0.00 Other 0.00 --
Development
Co., Ltd.
Reasons, accountability and measures to be
taken by the Board of Directors for new
non-operating capital occupation by the principal None
shareholder and its affiliated enterprises in the
year
Reasons, accountability and measures to be
None
taken by the Board of Directors for failing to
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
repay the capital occupied for non-operating
purposes as scheduled
6.5.4 Implementation of commitments made by the Company, its shareholders and
actual controller
Commitments made by the Company, its directors, supervisors, senior executives,
shareholders with an over 5% shareholding, actual controller and other stakeholders
during the reporting period, or such commitments carried down into the reporting
period:
□Applicable √Inapplicable
6.5.5 Pre-plan drawn up by the Board of Directors for profit distribution or turning
capital reserves into share capital for the reporting period
□Applicable √Inapplicable
6.5.6 Specific items of other comprehensive incomes
Unit: RMB Yuan
Item Current period Same period of last year
1. Gains/losses from available-for-sale financial assets -21,300,944.00 -29,163,750.00
Less: effect of available-for-sale financial assets on income
tax
Net amount recorded into other comprehensive incomes in
the previous period and transferred into gains and losses in
the current period
Subtotal -21,300,944.00 -29,163,750.00
2. Proportion enjoyed in other comprehensive incomes of
investees calculated on the equity method basis
Less: income tax effect of the proportion enjoyed in other
comprehensive incomes of investees calculated on the
equity method basis
Net amount recorded into other comprehensive incomes in
the previous period and transferred into gains and losses in
the current period
Subtotal
3. Gains/losses from cash flow hedging tools
Less: effect of gains/losses from cash flow hedging tools on
income tax
Net amount recorded into other comprehensive incomes in
the previous period and transferred into gains and losses in
the current period
Adjusted amount of the initial recognized amount of items
transferred into hedged items
Subtotal
4. Foreign-currency financial statement translation
314,125.00 -52,647.00
difference
Less: net amount transferred into current gains and losses
from overseas operation disposal
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
Subtotal 314,125.00 -52,647.00
5. Others -6,536,821.00
Less: income tax effect of other items recorded into other
comprehensive incomes
Net amount of other items recorded into other
comprehensive incomes in the previous period and
transferred into gains and losses in the current period
Subtotal -6,536,821.00
Total -20,986,819.00 -35,753,218.00
6.6 Researches, interviews and visits received in the reporting period
Main discussion
Reception and materials
Reception place Reception way Visitor
date provided by the
Company
Meeting Room ABC-CA Fund, China Nature Asset Management, SWS
5 Jan. 2011 Field research
of the Company Research
Telephone
6 Jan. 2011 On the phone Huatai Securities Main discussion:
communication
1. Operation status
Meeting Room
13 Jan. 2011 Field research Dongxing Securities and future
of the Company
development
Meeting Room
14 Jan. 2011 Field research Sinolink Securities strategies of the
of the Company
Company;
Meeting Room
19 Jan. 2011 Field research Avic Securities, Zexi Investment Management Co., Ltd. 2. Present status
of the Company
and development
Meeting Room Morgan Stanley Securities Co., Ltd., Morgan Stanley Asia
9 Feb. 2011 Field research trends in the
of the Company Limited
industry;
Meeting Room
25 Feb. 2011 Field research China Galaxy Securities 3. Particulars about
of the Company
Chengdu 4.5G
Meeting Room
3 Mar. 2011 Field research KGI Surities, KGI Asia Ltd. Project, Beijing 5G
of the Company
Project, Hefei 6G
China AMC, Beijing Longrising Asset Management Co., Ltd.,
Project and Beijing
Meeting Room China International Fund Management, New China Asset
9 Mar. 2011 Field research 8G Project;
of the Company Management Co., Ltd., HSBC Jintrust Fund Management, SWS
Research,
Materials provided
Meeting Room
10 Mar. 2011 Field research Caida Securities by the Company:
of the Company
2009 Annual
Meeting Room
17 Mar. 2011 Field research Haitong Securities Report of the
of the Company
Company, company
CongRong Investment Management, Changsheng Fund
brochure and other
Management, HFT Investment Management, Lord ABBETT
Meeting Room disclosed materials
18 Mar. 2011 Field research China Asset Management, Minsheng Royal Fund Management,
of the Company
First-Trust Fund Management, E Fund Management, Haitong
Securities, Zhonghai Fund
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
1. Operation status
BOC International Research Co., Ltd., BOC International
and future
Meeting Room (China) Limited, Genesis Capital Co., Ltd.
20 May 2011 Field research development
of the Company Keywise Capital Management (Beijing) Ltd., Haoyuan
strategies
Industrial Co., Ltd.
of the Company;
Meeting Room 2. Present status
24 May 2011 Field research Guoshi Investment, Guosen Securities
of the Company and development
Meeting Room trends in the
25 May 2011 Field research GF Securities
of the Company industry;
Telephone 3. Particulars about
31 May 2011 On the phone Huatai Securities
communication Chengdu 4.5G
Telephone Project, Beijing 5G
7 Jun. 2011 On the phone Yunjin Fund Co., Ltd.
communication Project, Hefei
Meeting Room 6G Project and
8 Jun. 2011 Field research Fubon Asset Management Co., Ltd.
of the Company Beijing 8G Project;
Materials provided
by the Company:
Meeting Room 2010 Annual
17 Jun. 2011 Field research HuaChuang Securities Co., Ltd.
of the Company Report of the
Company, company
brochure and other
disclosed materials
§7. Financial Report
7.1 Audit opinion
Financial report √Un-audited □Audited
7.2 Financial statements
7.2.1 Balance Sheet
Prepared by BOE Technology Group Co., Ltd 30 Jun. 2011 Unit: RMB Yuan
Closing balance Opening balance
Items
Consolidation The Company Consolidation The Company
Current Assets:
Monetary funds 22,317,926,668.00 2,428,127,205.00 23,997,831,673.00 11,570,776,269.00
Settlement reserves
Intra-group lendings
Transactional financial assets 67,794,013.00
Notes receivable 353,407,224.00 1,340,754.00 378,937,778.00 1,309,602.00
Accounts receivable 1,800,092,683.00 55,926,387.00 1,263,204,267.00 51,608,542.00
Accounts paid in advance 114,447,865.00 3,605,968.00 40,275,676.00 7,261,899.00
Premiums receivable
Reinsurance premiums
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
receivable
Receivable reinsurance contract
reserves
Interest receivable 80,535,776.00 7,740,075.00 57,851,997.00 13,899,504.00
Dividend receivable 8,204,147.00 8,204,147.00
Other accounts receivable 138,113,585.00 538,094,417.00 333,128,771.00 521,691,925.00
Financial assets purchased
under agreements to resell
Inventories 2,187,471,001.00 1,790,253.00 1,300,479,825.00 1,566,813.00
Non-current assets due within 1
year
Other current assets 710,791,525.00 25,194,722.00 352,781,119.00 22,389,271.00
Total current assets 27,702,786,327.00 3,070,023,928.00 27,792,285,119.00 12,198,707,972.00
Non-current assets:
Loans by mandate and
advances granted
Available-for-sale financial
152,598,955.00 152,598,955.00 173,899,899.00 173,899,899.00
assets
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 60,331,623.00 25,820,029,999.00 63,164,307.00 16,842,762,737.00
Investing property 1,380,873,321.00 185,017,970.00 1,407,773,542.00 187,567,077.00
Fixed assets 18,392,268,456.00 390,174,192.00 15,287,867,884.00 377,003,935.00
Construction in progress 14,543,937,667.00 7,463,478.00 8,098,446,109.00 15,050,501.00
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 1,087,340,300.00 66,202,492.00 1,112,496,157.00 58,347,672.00
R&D expense
Goodwill 55,926,774.00 55,926,774.00
Long-term deferred expenses 10,912,331.00 4,110,347.00 13,270,680.00 4,601,663.00
Deferred income tax assets 50,120,901.00 51,053,166.00
Other non-current assets 315,650,410.00 82,901,423.00 173,769,132.00 58,112,218.00
Total of non-current assets 36,049,960,738.00 26,708,498,856.00 26,437,667,650.00 17,717,345,702.00
Total assets 63,752,747,065.00 29,778,522,784.00 54,229,952,769.00 29,916,053,674.00
Current liabilities:
Short-term borrowings 7,714,268,170.00 55,932,678.00 4,964,412,066.00 74,889,216.00
Borrowings from Central Bank
Customer bank deposits and
due to banks and other financial
institutions
Intra-group borrowings
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
Transactional financial
liabilities
Notes payable 28,114,908.00 37,148,093.00
Accounts payable 3,313,353,942.00 5,309,906.00 2,267,112,387.00 5,061,943.00
Accounts received in advance 224,777,536.00 613,074,990.00 82,635,808.00 614,107,270.00
Financial assets sold for
repurchase
Handling charges and
commissions payable
Employee’s compensation
196,298,944.00 34,407,166.00 256,486,006.00 31,770,662.00
payable
Tax payable 11,869,679.00 1,775,314.00 15,603,988.00 2,223,606.00
Interest payable 105,930,306.00 797,349.00 55,863,170.00 1,324,503.00
Dividend payable 6,453,111.00 6,453,111.00 6,453,111.00 6,453,111.00
Other accounts payable 3,522,114,040.00 330,188,068.00 3,091,332,938.00 387,298,564.00
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of
securities
Payables for acting
underwriting of securities
Non-current liabilities due
964,954,730.00 200,000,000.00 260,068,100.00 200,000,000.00
within 1 year
Other current liabilities 50,405,279.00 23,407,481.00
Total current liabilities 16,138,540,645.00 1,247,938,582.00 11,060,523,148.00 1,323,128,875.00
Non-current liabilities:
Long-term borrowings 13,324,368,363.00 7,504,827,507.00
Bonds payable
Long-term payables
Specific payables
Estimated liabilities 36,282,611.00 37,049,896.00
Deferred income tax liabilities 289,241,954.00 294,904,213.00
Other non-current liabilities 1,034,791,083.00 51,702,779.00 1,072,839,752.00 64,414,064.00
Total non-current liabilities 14,684,684,011.00 51,702,779.00 8,909,621,368.00 64,414,064.00
Total liabilities 30,823,224,656.00 1,299,641,361.00 19,970,144,516.00 1,387,542,939.00
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share
13,521,542,341.00 13,521,542,341.00 11,267,951,951.00 11,267,951,951.00
capital)
Capital reserves 15,209,462,817.00 15,022,373,914.00 17,484,354,151.00 17,297,265,248.00
Less: Treasury stock
Specific reserves
Surplus reserves 499,092,613.00 499,092,613.00 499,092,613.00 499,092,613.00
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
Provisions for general risks
Retained profits -5,510,656,947.00 -564,127,445.00 -4,295,172,470.00 -535,799,077.00
Foreign exchange difference -899,074.00 -1,213,199.00
Total equity attributable to owners
23,718,541,750.00 28,478,881,423.00 24,955,013,046.00 28,528,510,735.00
of the Company
Minority interests 9,210,980,659.00 9,304,795,207.00
Total owners’ equity 32,929,522,409.00 28,478,881,423.00 34,259,808,253.00 28,528,510,735.00
Total liabilities and owners’
63,752,747,065.00 29,778,522,784.00 54,229,952,769.00 29,916,053,674.00
equity
7.2.2 Income statement
Prepared by BOE Technology Group Co., Ltd Jan.-Jun. 2011 Unit: RMB Yuan
Reporting period Same period of last year
Items
Consolidation The Company Consolidation The Company
I. Total operating revenues 4,940,033,997.00 91,857,703.00 4,186,429,883.00 102,710,816.00
Including: Sales income 4,940,033,997.00 91,857,703.00 4,186,429,883.00 102,710,816.00
Interest income
Premium income
Handling charge and
commission income
II. Total operating cost 6,326,899,814.00 135,318,876.00 4,819,456,166.00 103,460,462.00
Including: Cost of sales 5,344,717,781.00 38,700,083.00 4,125,238,491.00 37,083,883.00
Interest expenses
Handling charge and
commission expenses
Surrenders
Net claims paid
Net amount withdrawn for
the insurance contract reserve
Expenditure on policy
dividends
Reinsurance premium
Taxes and associate
10,971,045.00 2,247,936.00 9,167,917.00 4,093,045.00
charges
Selling and distribution
169,760,957.00 44,121.00 96,902,691.00 362,100.00
expenses
Administrative expenses 817,952,938.00 145,296,254.00 529,994,057.00 83,921,019.00
Financial expenses -75,281,816.00 -51,123,213.00 31,624,579.00 -22,348,827.00
Asset impairment loss 58,778,909.00 153,695.00 26,528,431.00 349,242.00
Add: Gain/(loss) from change in
-8,670,137.00
fair value (―-‖ means loss)
Gain/(loss) from investment
597,349.00 697,296.00 5,510,513.00 -2,006,069.00
(―-‖ means loss)
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
Including: share of profits in
3,414,968.00 -3,295,614.00
associates and joint ventures
Foreign exchange gains (―-‖
means loss)
III. Business profit (―-‖ means
-1,394,938,605.00 -42,763,877.00 -627,515,770.00 -2,755,715.00
loss)
Add: non-operating income 73,239,677.00 14,616,065.00 30,705,091.00 7,506,038.00
Less: non-operating expense 7,549,088.00 180,556.00 5,883,841.00 3,062,914.00
Including: loss from non-current
6,907,321.00 180,556.00 4,567,142.00 2,062,914.00
asset disposal
IV. Total profit (―-‖ means loss) -1,329,248,016.00 -28,328,368.00 -602,694,520.00 1,687,409.00
Less: Income tax expense -2,709,700.00 14,984,656.00 14,159,922.00
V. Net profit (―-‖ means loss) -1,326,538,316.00 -28,328,368.00 -617,679,176.00 -12,472,513.00
Attributable to owners of the
-1,215,484,477.00 -28,328,368.00 -540,706,227.00 -12,472,513.00
Company
Minority shareholders’
-111,053,839.00 -76,972,949.00 0.00
income
VI. Earnings per share
(I) Basic earnings per share -0.090 -0.0020 -0.065 -0.002
(II) Diluted earnings per
-0.090 -0.0020 -0.065 -0.002
share
Ⅶ. Other comprehensive incomes -20,986,819.00 -21,300,944.00 -35,753,218.00 -29,163,750.00
Ⅷ. Total comprehensive incomes -1,347,525,135.00 -49,629,312.00 -653,432,394.00 -41,636,263.00
Attributable to owners of the
-1,236,471,296.00 -49,629,312.00 -576,459,445.00 -41,636,263.00
Company
Attributable to minority
-111,053,839.00 -76,972,949.00 0.00
shareholders
For business combinations under the same control that occurred in the reporting
period, the combined parties realized net profits of RMB -1,394,938,605.00 before the
combinations.
7.2.3 Cash flow statement
Prepared by BOE Technology Group Co., Ltd Jan.-Jun. 2011 Unit: RMB Yuan
Reporting period Same period of last year
Items
Consolidation The Company Consolidation The Company
I. Cash flows from operating
activities:
Cash received from sale of
commodities and rendering of 3,944,504,377.00 34,094,945.00 3,883,606,521.00 47,378,797.00
service
Net increase of deposits from
customers and dues from banks
Net increase of loans from the
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
central bank
Net increase of funds borrowed
from other financial institutions
Cash received from premium of
original insurance contracts
Net cash received from
reinsurance business
Net increase of deposits of
policy holders and investment
fund
Net increase of disposal of
tradable financial assets
Cash received from interest,
handling charges and
commissions
Net increase of intra-group
borrowings
Net increase of funds in
repurchase business
Tax refunds received 236,511,314.00 141,215.00 18,350,679.00
Other cash received relating to
535,191,754.00 99,152,872.00 522,365,470.00 835,062,231.00
operating activities
Subtotal of cash inflows from
4,716,207,445.00 133,389,032.00 4,424,322,670.00 882,441,028.00
operating activities
Cash paid for goods and
3,999,021,124.00 60,273,770.00 3,397,493,079.00 19,488,908.00
services
Net increase of customer
lendings and advances
Net increase of funds deposited
in the central bank and amount
due from banks
Cash for paying claims of the
original insurance contracts
Cash for paying interest,
handling charges and
commissions
Cash for paying policy
dividends
Cash paid to and for employees 683,572,295.00 77,032,973.00 376,521,597.00 33,629,225.00
Various taxes paid 101,014,106.00 21,512,453.00 153,938,104.00 66,648,838.00
Other cash payment relating to
546,789,867.00 123,680,010.00 493,057,714.00 159,367,803.00
operating activities
Subtotal of cash outflows from
5,330,397,392.00 282,499,206.00 4,421,010,494.00 279,134,774.00
operating activities
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
Net cash flows from operating
-609,716,117.00 -144,636,345.00 3,312,176.00 603,306,254.00
activities
II. Cash flows from investing
activities:
Cash received from retraction
36,694,000.00
of investments
Cash received from return on
3,430,033.00 3,430,033.00 2,095,346.00 2,095,544.00
investments
Net cash received from disposal
of fixed assets, intangible assets 1,054,188.00 972,287.00 11,620,453.00
and other long-term assets
Net cash received from disposal
of subsidiaries or other business 20,000,000.00
units
Other cash received relating
1,694,201,045.00 64,117,692.00 274,462,981.00 46,097,846.00
to investing activities
Subtotal of cash inflows
1,698,685,266.00 88,520,012.00 288,178,780.00 84,887,390.00
from investing activities
Cash paid to acquire fixed
assets, intangible assets and other 11,595,565,436.00 24,953,787.00 6,271,157,329.00 146,419,368.00
long-term assets
Cash paid for investment 315,135,550.00 8,975,135,550.00 27,695,991.00 367,695,991.00
Net increase of pledged loans
Net cash paid to acquire
subsidiaries and other business 15,306,439.00
units
Other cash payments relating to
6,403,063,351.00 4,728,361,663.00 256,219,660.00
investing activities
Subtotal of cash outflows from
18,329,070,776.00 9,000,089,337.00 11,027,214,983.00 770,335,019.00
investing activities
Net cash flows from investing
-16,630,385,510.00 -8,911,569,325.00 -10,739,036,203.00 -685,447,629.00
activities
III. Cash Flows from Financing
Activities:
Cash received from capital
5,500,000,000.00
contributions
Including: Cash received from
minority shareholder investments
by subsidiaries
Cash received from
13,076,509,060.00 30,338,847.00 3,346,749,917.00 45,596,625.00
borrowings
Cash received from issuance
of bonds
Other cash received relating to 58,505,525.00 17,878,000.00 1,253,466.00
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
financing activities
Subtotal of cash inflows from
13,135,014,585.00 48,216,847.00 8,848,003,383.00 45,596,625.00
financing activities
Repayment of borrowings 3,657,302,209.00 47,956,027.00 1,142,673,283.00
Cash paid for interest
expenses and distribution of 236,467,968.00 1,349,289.00 106,240,597.00 1,920,568.00
dividends or profit
Including: dividends or profit
paid by subsidiaries to minority
shareholders
Other cash payments relating
25,047,038.00 7,476,924.00 2,089,889.00 34,620.00
to financing activities
Sub-total of cash outflows from
3,918,817,215.00 56,782,240.00 1,251,003,769.00 1,955,188.00
financing activities
Net cash flows from financing
9,216,197,370.00 -8,565,393.00 7,596,999,614.00 43,641,437.00
activities
IV. Effect of foreign exchange
rate changes on cash and cash 3,915,256.00 4,473,829.00 1,412,902.00 -34,774.00
equivalents
V. Net increase in cash and cash
-8,024,462,831.00 -9,064,771,063.00 -3,137,311,511.00 -38,534,712.00
equivalents
Add: Opening balance of
19,097,948,638.00 11,478,796,269.00 15,230,490,504.00 2,789,984,272.00
cash and cash equivalents
VI. Closing balance of cash and
11,073,485,807.00 2,414,025,206.00 12,093,178,993.00 2,751,449,560.00
cash equivalents
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
7.2.4 Statement of Changes in Owners’ Equity (Consolidated)
Prepared by BOE Technology Group Co., Ltd For the first half of 2011 Unit: RMB Yuan
Reporting period Last year
Equity attributable to owners of the Company Equity attributable to owners of the Company
Paid-up Minorit Paid-up Minorit
Total Total
Items capital Less: Specifi Genera y capital Less: Specifi Genera y
Capital Surplus Retaine owners’ Capital Surplus Retaine owners’
(or treasur c l risk Others interest (or treasur c l risk Others interest
reserve reserve d profit equity reserve reserve d profit equity
share y stock reserve reserve s share y stock reserve reserve s
capital) capital)
11,267, 17,484, 499,09 -4,295, 9,304,7 34,259, 8,282,9 11,541, 499,09 -2,298, 3,913,3 21,936,
I. Balance at the end of the -1,213, -2,172,
951,95 354,15 2,613.0 172,47 95,207. 808,25 02,447. 232,69 2,613.0 250,41 47,282. 151,95
previous year 199.00 667.00
1.00 1.00 0 0.00 00 3.00 00 2.00 0 3.00 00 4.00
Add: change of accounting 6,891,0 -6,891,
policy 26.00 026.00
Correction of errors in
previous periods
Other
11,267, 17,484, 499,09 -4,295, 9,304,7 34,259, 8,282,9 11,541, 499,09 -2,291, 3,906,4 21,936,
II. Balance at the beginning -1,213, -2,172,
951,95 354,15 2,613.0 172,47 95,207. 808,25 02,447. 232,69 2,613.0 359,38 56,256. 151,95
of the year 199.00 667.00
1.00 1.00 0 0.00 00 3.00 00 2.00 0 7.00 00 4.00
III. Increase/ decrease of 2,253,5 -2,274, -1,215, -1,330, 2,985,0 5,943,1 -2,003, 5,398,3 12,323,
314,12 -93,814 959,46
amount in the year (―-‖ 90,390. 891,33 484,47 285,84 49,504. 21,459. 813,08 38,951. 656,29
5.00 ,548.00 8.00
means decrease) 00 4.00 7.00 4.00 00 00 3.00 00 9.00
-1,215, -111,05 -1,326, -2,003, -264,21 -2,268,
(I) Net profit 484,47 3,839.0 538,31 813,08 9,723.0 032,80
7.00 0 6.00 3.00 0 6.00
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
(II) Other comprehensive -21,300 314,12 -20,986 -10,009 959,46 -9,050,
incomes ,944.00 5.00 ,819.00 ,650.00 8.00 182.00
-1,215, -111,05 -1,347, -2,003, -264,21 -2,277,
-21,300 314,12 -10,009 959,46
Subtotal of (I) and (II) 484,47 3,839.0 525,13 813,08 9,723.0 082,98
,944.00 5.00 ,650.00 8.00
7.00 0 5.00 3.00 0 8.00
2,985,0 5,953,1 5,644,9 14,583,
(III) Capital paid in and 17,239, 17,239,
49,504. 31,109. 69,822. 150,43
reduced by owners 291.00 291.00
00 00 00 5.00
2,985,0 5,958,5 8,943,6
1. Capital paid in by
49,504. 97,622. 47,126.
owners
00 00 00
2. Amounts of
share-based payments
recognized in owners’ equity
5,644,9 5,639,5
17,239, 17,239, -5,466,
3. Others 69,822. 03,309.
291.00 291.00 513.00
00 00
(IV) Profit distribution
1. Appropriations to
surplus reserves
2. Appropriations to
general risk provisions
3. Appropriations to
owners (or shareholders)
4. Other
(V) Internal carry-forward 2,253,5 -2,253,
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
of owners’ equity 90,390. 590,39
00 0.00
1. New increase of 2,253,5 -2,253,
capital (or share capital) from 90,390. 590,39
capital public reserves 00 0.00
2. New increase of
capital (or share capital) from
surplus reserves
3. Surplus reserves for
making up losses
4. Other
(Ⅵ) Specific reserve
1. Withdrawn for the
period
2. Used in the period
17,588, 17,588,
(Ⅶ) Other
852.00 852.00
13,521, 15,209, 499,09 -5,510, 9,210,9 32,929, 11,267, 17,484, 499,09 -4,295, 9,304,7 34,259,
-899,07 -1,213,
IV. Closing balance 542,34 462,81 2,613.0 656,94 80,659. 522,40 951,95 354,15 2,613.0 172,47 95,207. 808,25
4.00 199.00
1.00 7.00 0 7.00 00 9.00 1.00 1.00 0 0.00 00 3.00
7.2.5 Statement of Changes in Owners’ Equity (the Company)
Prepared by BOE Technology Group Co., Ltd For the first half of 2011 Unit: RMB Yuan
Reporting period Last year
Items Paid-up Capital Less: Specific Surplus General Retained Total Paid-up Capital Less: Specific Surplus General Retained Total
capital reserve treasury reserve reserve risk profit owners’ capital reserve treasury reserve reserve risk profit owners’
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
(or share stock reserve equity (or share stock reserve equity
capital) capital)
I. Balance at the end of the 11,267,95 17,297,26 499,092,6 -535,799, 28,528,51 8,282,902 11,348,67 499,092,6 -683,517, 19,447,15
previous year 1,951.00 5,248.00 13.00 077.00 0,735.00 ,447.00 7,276.00 13.00 456.00 4,880.00
Add: change of accounting
policy
Correction of errors in
previous periods
Other
II. Balance at the beginning 11,267,95 17,297,26 499,092,6 -535,799, 28,528,51 8,282,902 11,348,67 499,092,6 -683,517, 19,447,15
of the year 1,951.00 5,248.00 13.00 077.00 0,735.00 ,447.00 7,276.00 13.00 456.00 4,880.00
III. Increase/ decrease of
2,253,590 -2,274,89 -28,328,3 -49,629,3 2,985,049 5,948,587 147,718,3 9,081,355
amount in the year (―-‖
,390.00 1,334.00 68.00 12.00 ,504.00 ,972.00 79.00 ,855.00
means decrease)
-28,328,3 -28,328,3 147,718,3 147,718,3
(I) Net profit
68.00 68.00 79.00 79.00
(II) Other comprehensive -21,300,9 -21,300,9 -10,009,6 -10,009,6
incomes 44.00 44.00 50.00 50.00
-21,300,9 -28,328,3 -49,629,3 -10,009,6 147,718,3 137,708,7
Subtotal of (I) and (II)
44.00 68.00 12.00 50.00 79.00 29.00
(III) Capital paid in and 2,985,049 5,958,597 8,943,647
reduced by owners ,504.00 ,622.00 ,126.00
1. Capital paid in by 2,985,049 5,958,597 8,943,647
owners ,504.00 ,622.00 ,126.00
2. Amounts of
share-based payments
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
recognized in owners’ equity
3. Others
(IV) Profit distribution
1. Appropriations to
surplus reserves
2. Appropriations to
general risk provisions
3. Appropriations to
owners (or shareholders)
4. Other
(V) Internal carry-forward 2,253,590 -2,253,59
of owners’ equity ,390.00 0,390.00
1. New increase of
2,253,590 -2,253,59
capital (or share capital) from
,390.00 0,390.00
capital public reserves
2. New increase of
capital (or share capital) from
surplus reserves
3. Surplus reserves for
making up losses
4. Other
(Ⅵ) Specific reserve
1. Withdrawn for the
period
2. Used in the period
(Ⅶ) Other
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
13,521,54 15,022,37 499,092,6 -564,127, 28,478,88 11,267,95 17,297,26 499,092,6 -535,799, 28,528,51
IV. Closing balance
2,341.00 3,914.00 13.00 445.00 1,423.00 1,951.00 5,248.00 13.00 077.00 0,735.00
Abstract of the Semi-annual Report 2011 of BOE Technology Group Co.,Ltd.
7.3 Notes to the financial statements
7.3.1 Should there be any change in accounting policies and estimates or correction of
accounting errors, give the relevant information, reasons and the influenced amounts.
□Applicable √Inapplicable
7.3.2 Should there be any significant change in the scope for the consolidated
statements, give the reasons and the influenced amounts.
□Applicable √Inapplicable
7.3.3 If a non-standard auditor’s report is issued, list notes to involved matters.
□Applicable √Inapplicable
Chairman of the Board of Directors (Signature): Wang Dongsheng
Board of Directors
BOE Technology Group Co., Ltd.
26 Aug. 2011